Vipshop Holdings Limited has released unaudited financial results for the quarter and year ended December 31, 2022.
The online discount retailer in China reported total net revenues of RMB31.8bn ($4.6bn) for Q4 2022, compared with RMB34.1bn in the prior-year period, and total net revenues for the entire year of 2022 were RMB103.2bn, compared with RMB117.1bn in the prior year.
Gross profit for Q4 2022 rose by 2.8% YoY to RMB6.9bn from RMB6.7bn in the prior-year period, and net income attributable to Vipshop’s shareholders increased by 57.9% YoY to RMB2.2bn.
The number of active customers fell to 47.7 million, down from 49.2 million in the prior year period, and total orders for the fourth quarter rose to 218.5 million from 216.9 million in the prior year period.
Vipshop Chairman and CEO Eric Shen said he believed the company was now in a stronger position than before to achieve both growth and profitability.